Analyst: Bitcoin may further decline to the $60,000 support level

CycleProphet · 2026-03-30T03:33:52+00:00

Affected by geopolitical conflicts, high oil prices, and inflation, Bitcoin's price has fallen back to $66,966, with market sentiment "extremely panicked." Nevertheless, institutional capital inflows remain optimistic, and a rebound to $70,000 is expected.

CycleProphet

2026-03-30 03:33:52

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Deep Tide TechFlow news, on March 30, according to The Block, affected by the ongoing geopolitical conflict between the U.S. and Iran, high oil prices, and rising inflation concerns, Bitcoin is currently priced at about $66,966, significantly down from last week’s high of $71,000, and briefly fell to $65,000 last Saturday. The Fear and Greed Index shows the current reading at 9, indicating that the market is in a state of “extreme fear.”

BTSE Chief Operating Officer Jeff Mei stated that oil and gas prices will remain high and drag down economic growth, and Bitcoin may further dip to the support level of $60,000. However, institutional funds are relatively optimistic, with monthly net inflows into the US spot Bitcoin ETF exceeding $1.13 billion, breaking a previous streak of four months of net outflows, and Strategy continues to increase holdings, while Morgan Stanley is also set to launch a low-fee Bitcoin ETF. Analysts point out that if this week’s U.S. initial jobless claims and non-farm payroll data show weakness, it could trigger a rebound in risk appetite; if the U.S.-Iran situation eases, Bitcoin is also expected to return above $70,000.

BTC1.41%

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